Cobham acquires Patriot Antenna Systems

The cash consideration for Patriot comprises $18m on a debt and cash free basis payable on completion, with additional consideration of up to $27m, contingent on future performance. The purchase is anticipated to complete in quarter three of 2007 subject only to certain environmental clearances, as approval has already been received from the Committee on Foreign Investments in the United States (CFIUS), regarding foreign affairs. Based in Michigan, USA and employing approximately 100 people, Patriot designs and manufactures parabolic antennas, utilising its patented dual skin technology, and a range of specialist Radio Frequency (RF) equipment. The antennas range from very large 12 metre antennas for deep space communications to military and civilian satellite communication antennas. Patriot also designs and manufactures innovative satellite communication products, focused on the medium and large antennas market, including high accuracy positioning systems, portable and flyway antenna systems as well as die cast microwave feed components.